A downtown employee is looking for the best option for parking a car during a 5 day work week. One parking garage offers unlimited parking at a flat rate per month. Another garage offers an hourly rate for parking. Which option is best for the employee on a monthly basis?
Consider that the employee works standard 8 hours a day.© BrainMass Inc. brainmass.com October 10, 2019, 8:04 am ad1c9bdddf
Let us say,
F = Flat rate per month that offers unlimited parking (garage 1)
H = Hourly rate for parking (garage 2)
C = Monthly parking cost with a garage
where F, H and C are expressed in same money unit.
In case of garage 1,
C = F ------ Equation 1
Consider the case of garage 2 now. It is already specified that employee is working 5 days/week, and 8 hours/day.
In a week, the employee works for 8*5=40 hours.
Different months will have different working days, due to
- number of days in month, and
- number of Saturday/Sunday (assumed standard two days holidays/week) in month.
So it will be better to compute average parking cost per month in this case.
There are 52 weeks in ...
As nothing is specified about number of workdays in a month, and number of workdays can vary across months, solution computes average monthly cost for garage 2 considering 52 weeks/year. Solution also describes how graphs can be drawn to solve this problem graphically.